Oct 18, Bitcoin Weekly Report

2 min readOct 18, 2021

#1. Bitcoin Weekly News Summary

Jack Dorsey says Square may build a bitcoin mining system, adding to bitcoin price surge
Square CEO Jack Dorsey said late on Friday the company might jump into the bitcoin mining business.

Bitcoin tops $60,000 for first time in six months as traders bet on ETF approval
Bitcoin climbed above $60,000 Friday, pushing the digital coin further toward its all-time high, as traders speculated U.S. regulators would clear the first bitcoin futures exchange-traded fund.

Bitcoin: Bank deputy calls for urgent crypto regulation
Cryptocurrencies need regulation as a “matter of urgency”, according to Bank of England deputy governor Sir Jon Cunliffe.

#2. Bitcoin Open Interest at major exchange

Binance: It rose by $400 million to about $3.3 billion.

BitMEX: It rose $5,000 to a steady level of $720 million.

Bybit: It rose $2,000 and remained stable price at $1.6 billion.

#3.Bitcoin Dominance

Bitcoin Dominance is at the level of 46%.

#4. Bitcoin Price and its correlations

The value of correlation may vary from -1 to 1. The closer the value gets to 1, the higher the two assets are associated and moving in the same direction. When it is closer to -1, it is vice versa. Zero in value means there is no correlation at all.

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